Harbor Advisors LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 4.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 155,600 shares of the information services provider’s stock after selling 7,000 shares during the period. Alphabet comprises approximately 3.8% of Harbor Advisors LLC’s investment portfolio, making the stock its 3rd biggest position. Harbor Advisors LLC’s holdings in Alphabet were worth $16,140,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Live Oak Investment Partners bought a new position in Alphabet in the fourth quarter worth approximately $26,000. Sanctuary Wealth Management L.L.C. bought a new stake in shares of Alphabet in the fourth quarter valued at about $34,000. Turim 21 Investimentos Ltda. purchased a new stake in Alphabet in the third quarter worth about $38,000. IAG Wealth Partners LLC grew its holdings in Alphabet by 100.0% during the 1st quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock worth $41,000 after acquiring an additional 200 shares in the last quarter. Finally, AM Squared Ltd purchased a new position in Alphabet during the 4th quarter valued at about $44,000. Institutional investors own 35.08% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the stock. Morgan Stanley upped their price target on shares of Alphabet from $150.00 to $155.00 in a research report on Wednesday, July 26th. Sanford C. Bernstein upped their target price on Alphabet from $130.00 to $135.00 in a report on Wednesday, July 26th. Tigress Financial boosted their price target on Alphabet from $160.00 to $172.00 and gave the stock a “strong-buy” rating in a research report on Friday, July 14th. Credit Suisse Group upped their price objective on Alphabet from $135.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, July 17th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $140.00 target price on shares of Alphabet in a research note on Friday, August 11th. Four equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $143.08.
Alphabet Stock Performance
Shares of GOOGL stock opened at $134.57 on Wednesday. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $136.57. The company has a quick ratio of 2.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.05. The stock has a market cap of $1.70 trillion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 1.50 and a beta of 1.06. The business has a 50-day simple moving average of $125.47 and a 200-day simple moving average of $113.90.
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. The company had revenue of $74.60 billion during the quarter, compared to the consensus estimate of $60.24 billion. During the same period in the previous year, the company posted $1.21 earnings per share. On average, equities analysts expect that Alphabet Inc. will post 5.68 EPS for the current year.
Insider Activity
In related news, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of Alphabet stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $15.06, for a total value of $563,319.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $15.06, for a total value of $563,319.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 220 shares of the stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $130.14, for a total transaction of $28,630.80. Following the completion of the sale, the director now owns 4,818 shares of the company’s stock, valued at approximately $627,014.52. The disclosure for this sale can be found here. Insiders sold 163,353 shares of company stock worth $8,576,028 over the last three months. 0.88% of the stock is currently owned by corporate insiders.
About Alphabet
Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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